banking software company Temenos announced at the Temenos Community Forum 2024 the launch of a new responsibility-generating AI solution aimed at enhancing core banking operations.
The company deployed these AI solutions to integrate with existing banking platforms such as Temenos Core and Financial Crime Mitigation (FCM).
This latest development is supported by Temenos’ significant investment in research and development, which has already resulted in patented products. Explainable AI (XAI) solutions.
New Generative AI tools are designed to help bankers interact with data through natural language queries, providing instant insights and reports that can significantly reduce response times when accessing critical data. .
The innovative solution is built with transparency and security, making it easy for both users and regulators to verify results.
This AI technology is designed to integrate seamlessly with banks’ existing data infrastructure and address common data security and privacy challenges.
Temenos’ Generative AI technology is versatile and can be applied to customer service, middle office operations, and product development.
This allows you to create banking products tailored to customer preferences in real time and can operate independently with minimal integration or connect to existing systems.
These solutions can be implemented on-premises, on various cloud platforms, or through Temenos SaaS.
In practice, new AI capabilities will enhance day-to-day banking by streamlining the generation of insights, reports, and actions, thereby increasing productivity in account management and product creation.
In the area of financial crime mitigation, this technology enables rapid analysis and classification of financial crime alerts and other critical data.
In the future, Temenos plans to expand these AI solutions to other areas such as wealth management and digital banking platforms.
This initiative puts Temenos at the forefront of responsible and secure generative AI technology integration in the banking sector.
Prema Varadhan
Prema Varadhan, Temenos Product President and COO said:
“Temenos Explainable AI provides transparency and auditable insights, while our Generative AI-powered platform delivers these insights instantly in an intelligent and personalized way.
Temenos ensures responsible AI practices by providing explainability, security, secure deployment, and bank-specific features. Our AI platform enables banks to quickly implement real-world use cases that improve efficiency, increase profitability, and create highly personalized customer experiences. ”
Featured image credit: Edited from freepic
